A California company that manufactures women's clothing for several retail chains has filed for chapter 11 bankruptcy. The women clothing company which was incorporated in December of 2003 had steady sales increases till 2008. The debtor began having difficulties paying debtors. In 2009 the sales had decreased by %50 and losses were up to $1 million.
The story of sales losses is a common one we hear at the Law Offices of Marc Grossman. If you are considering a business bankruptcy and need a California chapter 11 bankruptcy attorney, contact us for a FREE initial consultation 888-407-9068.
Update: Blockbuster files for chapter 11 bankruptcy last Thursday.
For the past year there have been rumors of Blockbuster filing for Chapter 11 bankruptcy. It appears those rumors are back. It appears that the large movie giant Blockbuster is paying for slowly adapting their movie rental model. The addition of Red Box and Netflix along with instant streaming movie and T.V. rentals has put companies like Hollywood rentals and other larger video rental giants out of business.
While Blockbuster has adapted their business model, it appears it's too little too late. They have created iPhone and windows mobile apps to watch their instant streaming service, but have lacked functionality on devices such as the Xbox 360 and blue ray players -- which Netflix has and makes your content readily available on a slew of devices.